Amazon.com Posts Loss As Fiscal Year Opens

For the first quarter ended March 31, Amazon.com posted a net loss of $57 million, or 12 cents per diluted share, versus net income of $108 million, or 23 cents per diluted share, in the 2014 period. Net sales gained 15% to $22.72 billion versus the first quarter of 2014, the retailer reported.

Amazon net loss per diluted share met or narrowly beat published analyst average estimates.

With a $1.3 billion unfavorable impact from year-over-year changes in foreign exchange rates excepted, net sales advanced 22% compared to the first quarter of 2014, Amazon stated.

Operating income increased 74% to $255 million in the first quarter versus the year prior, the company added.